The National Association of Realtors® applauds new policy initiatives announced today by President Barack Obama that will enable more first-time and underserved homebuyers to enter the housing market while preserving strong underwriting standards and protecting taxpayers from unnecessary risk.

Existing-home sales are forecasted to rise in 2015 behind a strengthening economy, solid job gains and a healthy increase in home prices, according to NAR Chief Economist Lawrence Yun in a newly-released video.